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MONEY MANAGEMENT

Quad-C Management closes ninth fund at $1.1 billion

Quad-C Management closed its latest middle-market private equity fund, the $1.1 billion Quad-C Partners IX, at its hard cap in a single closing, spokeswoman Hayley Reissfelder said in an email.

The fund exceeded its $800 million target and is 57% larger than the prior fund that closed in December 2012 after that fund raised about $700 million.

The latest fund will invest in companies ranging in size from $75 million to $400 million. Of the 13 deals in the prior fund, Quad-C Partners VIII, Quad-C was the first institutional investor in eight of the companies.

Investors in the new fund include the $62 billion Massachusetts Pension Reserves Investment Management Board, Boston, and $16 billion Kansas Public Employees Retirement System, Topeka.